AK Steel Holding Corp. (AKS) reported fourth quarter net income attributable to AK Steel of $39.8 million or $0.36 per share, compared to net loss attributable to AK Steel of $430.6 million or $3.87 per share last year.
On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share. Analysts' estimates typically exclude special items.
Net sales declined to $1.32 billion from $1.46 billion in the prior year quarter. Nine analysts estimated revenues of $1.25 billion.
AK Steel said it expects its first quarter 2010 shipments to approximate its fourth quarter 2009 levels, while average selling prices are expected to rise approximately 4% to 5% over the previous quarter levels. The company anticipates lower operating and maintenance costs compared to the fourth quarter of 2009. In addition, while the company recorded a significant LIFO credit in the fourth quarter of 2009, it expects to incur a LIFO charge in the first quarter of 2010, as well as higher costs for raw materials. As such, AK Steel expects to report an operating profit of approximately $35 per ton for the first quarter of 2010.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.